Tech Recovery Lifts Asian Stock Markets
Asian stock markets largely rallied on Wednesday, following a soft inflation report overnight from Washington, and gains in tech shares on Wall Street. In addition, reports from Beijing confirmed a still-growing national economy, if somewhat tempered by sluggish retail and property sectors. Hong Kong and Tokyo trading floors finished in the green, although Shanghai edged lower. Other regional exchanges gained ground, led by a 6.2% rise on Seoul's KOSPI index. In Japan, the Nikkei 225 opened higher on overnight Wall Street cues and held ground, finishing up 1.5% as traders again embraced tech shares. The benchmark Nikkei 225 rose 1008.01 to 68,751.51, as gaining issues outnumbered losers 153 to 68. Leading the upside was semiconductor manufacturing equipment maker Lasertec, up 10.2%, while frozen food distributor Nicherei declined 8.2% after a cyber-attack disrupted operations. In economic news, Japan's tertiary (services) index rose 1.1% in May from April, reaching the highest level since 2019. In Hong Kong, the Hang Seng Index opened evenly and rose to the close, after reports from Beijing affirmed China's economy is only marginally below state growth targets. The broad.
Asian stock markets largely rallied on Wednesday, following a soft inflation report overnight from Washington, and gains in tech shares on Wall Street.
In addition, reports from Beijing confirmed a still-growing national economy, if somewhat tempered by sluggish retail and property sectors.
Hong Kong and Tokyo trading floors finished in the green, although Shanghai edged lower.
Other regional exchanges gained ground, led by a 6.2% rise on Seoul's KOSPI index.
In Japan, the Nikkei 225 opened higher on overnight Wall Street cues and held ground, finishing up 1.5% as traders again embraced tech shares.
The benchmark Nikkei 225 rose 1008.01 to 68,751.51, as gaining issues outnumbered losers 153 to 68.
Leading the upside was semiconductor manufacturing equipment maker Lasertec, up 10.2%, while frozen food distributor Nicherei declined 8.2% after a cyber-attack disrupted operations.
In economic news, Japan's tertiary (services) index rose 1.1% in May from April, reaching the highest level since 2019.
In Hong Kong, the Hang Seng Index opened evenly and rose to the close, after reports from Beijing affirmed China's economy is only marginally below state growth targets.
The broad.